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CEO & Publisher: Oh Young-jinDigital News Email: webmaster@koreatimes.co.krTel: 02-724-2114Online newspaper registration No: 서울,아52844Date of registration: 2020.02.05Masthead: The Korea TimesCopyright © koreatimes.co.kr. All rights reserved.

Hyundai Motor launches battery subscription plan to reduce EV purchase costs

Hyundai Motor Group said Tuesday that it will begin a pilot program letting customers pay separately for electric vehicle (EV) batteries rather than buying them with the car, an effort to reduce the upfront cost of owning an EV. Hyundai Motor and Hyundai Capital will jointly run the pilot in the first half of this year, targeting corporate taxi operators whose battery warranties have expired. The program is made possible by a special regulatory exemption approved by the Ministry of Land, Infrastructure and Transport in November, allowing electric vehicle bodies and batteries to be registered under separate ownership for the first time. Under current vehicle regulations, batteries cannot be registered or managed separately from the vehicle. That has been cited as a drag on EV demand, since battery degradation can reduce resale values and leave owners responsible for costly replacements. The pilot program will cover five Ioniq 5 fleet taxis operating in the Seoul metropolitan area. Participating operators will pay a monthly subscription fee to Hyundai Capital and, when a battery needs rep

Apr 28, 2026By Jhoo Dong-chan
Hyundai Motor launches battery subscription plan to reduce EV purchase costs

CJ CheilJedang makes garbage bags from biodegradable plastic alternative

CJ CheilJedang, the main food and biotechnology arm of CJ Group, has successfully produced garbage bags made from PHA, a biodegradable material developed through the company’s fermentation technology, marking the latest expansion of its commercial use. PHA, or polyhydroxyalkanoate, is produced by microorganisms that feed on plant-derived sugars such as those from sugarcane through a fermentation process. Unlike petroleum-based plastics, it biodegrades in both soil and seawater. Only a handful of companies worldwide can mass-produce PHA, and CJ CheilJedang is the sole domestic producer in Korea. The new bags match conventional garbage bags in tensile strength while offering 1.8 times greater elasticity, allowing them to hold large volumes of waste without tearing, the company said. CJ CheilJedang recently signed an agreement with Jung District office in Seoul and donated 350,000 bags in two sizes — 10 liters and 20 liters. The 10 liter bags will be used for road cleaning, while the 20 liter bags will be distributed to residents who bring recyclables such as cans and glass bottles to

Apr 28, 2026By Jhoo Dong-chan
CJ CheilJedang makes garbage bags from biodegradable plastic alternative

LG Uplus tops 2026 customer rankings in mobile service, IPTV

LG Uplus, one of Korea's three major wireless service providers, ranked first in both the mobile telephone service and IPTV categories of the 2026 National Customer Satisfaction Index, the company said Tuesday. The company’s top ranking in mobile telephone service was its first in that category, while its IPTV result marked a fifth consecutive year atop the index. LG Uplus said the results reflected a companywide quality management system that uses artificial intelligence (AI) to identify and address customer frustrations through analysis of customer feedback data. Recurring service issues are handled through standardized processes, while systems are continuously upgraded to improve reliability and convenience, the company said. In mobile services, LG Uplus has centered its differentiation strategy on ixi-O, an AI call agent introduced in late 2024. The service provides call recording and summaries, real-time voice-phishing and spam detection and highly personalized call assistance features. LG Uplus unveiled an upgraded version, ixi-O Pro, at MWC26 in Barcelona in March, where it drew

Apr 28, 2026By Jhoo Dong-chan
LG Uplus tops 2026 customer rankings in mobile service, IPTV

S. Korea to begin 1st filing for global minimum corporate tax next month

South Korea's tax authorities said Tuesday they will begin receiving filings under the new global minimum corporate tax regime from more than 2,500 multinational enterprises next month. Qualifying companies, which include virtually all major domestic conglomerates, must complete their first filing and payment for fiscal year 2024 by June 30, with the filing period opening Friday, the National Tax Service (NTS) said. The rule requires a minimum corporate tax rate of 15 percent for companies with more than 750 million euros (US$878 million) in annual revenue. It is designed to reduce tax competition among countries and prevent large multinational companies from avoiding taxes. Under the rules, qualifying companies must file in South Korea regardless of whether their ultimate parent company is based domestically or abroad. Even if the parent company's home country has not implemented the global minimum tax, subsidiaries in South Korea are still required to file. However, government entities, international organizations, nonprofit groups and pension funds are all exempt from this arrangement

Apr 28, 2026By Yonhap
S. Korea to begin 1st filing for global minimum corporate tax next month

Antitrust regulator extends corrective measures on Hanwha's shipbuilder acquisition by another 3 years

South Korea's antitrust regulator said Tuesday it has extended by three years the compliance period for corrective measures imposed as a condition of a major shipbuilder acquisition led by Hanwha Group in 2022. In 2023, the Korea Fair Trade Commission (FTC) ordered corrective measures after Hanwha Aerospace Co. and five other affiliates acquired a 49.3 percent stake and management control of then troubled Daewoo Shipbuilding & Marine Engineering, which has since been renamed Hanwha Ocean. Under the latest decision, Hanwha Aerospace, Hanwha Systems Co. and Hanwha Ocean will be prohibited from engaging in practices such as discriminatory pricing for ship components for another three years, the FTC said. The FTC said the corrective measures will now remain in effect until May 2, 2029, and added that it may extend the restrictions by up to two additional years if necessary following a review of market competition conditions and legal changes. The latest decision marks the first time the regulator has extended the enforcement period of corrective measures imposed on a corporate merger. The com

Apr 28, 2026By Yonhap
Antitrust regulator extends corrective measures on Hanwha's shipbuilder acquisition by another 3 years

Hyundai Motor revamps IONIQ strategy for China, Europe

Hyundai Motor is accelerating a strategic realignment of its IONIQ brand to focus on China and Europe — two of the world’s largest electric vehicle (EV) markets — as the carmaker struggles to overcome tariff-induced earnings decline. The carmaker recently unveiled the IONIQ V all-electric sedan, designed for China, in a renewed push for the world’s largest EV market. Hyundai Motor’s top executives — including Vice Chair Chang Jae-hoon and CEO Jose Munoz — flew to Beijing for the Auto China 2026 exhibition. China’s EV market is dominated by homegrown players, but Hyundai Motor is moving to recover its sales with the strategic launch of the China-exclusive model. The carmaker also shared its plan to introduce 20 new models there over the next five years, spanning both extended-range electric vehicles and fully electric models. The IONIQ V EV stands out for its advanced features, including a 27-inch 4K display and an advanced driver assistance system developed in partnership with Chinese autonomous driving firm, Momenta. “China is the most difficult market for us, but we w

Apr 28, 2026By Lee Min-hyung
Hyundai Motor revamps IONIQ strategy for China, Europe

Samsung SDI returns to black in Q1 on battery demand recovery

Samsung SDI on Tuesday reported a first-quarter operating loss of 155.6 billion won ($115.3 million) and revenue of 3.58 trillion won, as it sharply narrowed losses and returned to net profit. The company said revenue rose 12.6 percent year-on-year, while operating loss contracted 64.2 percent. Net profit came to 56.1 billion won, marking a return to profitability. By segment, the battery business generated 3.35 trillion won in revenue and posted an operating loss of 176.6 billion won, while the electronic materials business recorded 222 billion won in revenue and an operating profit of 21 billion won. Samsung SDI said battery performance improved as demand recovered across key applications, including energy storage systems (ESS), uninterruptible power supply, battery backup units (BBU) and power tools. Revenue rose 12.5 percent year-on-year, while losses narrowed by more than 61 percent. The improvement was driven in part by increased Advanced Manufacturing Production Credit benefits, supported by expanded U.S.-based ESS battery production and sales, as well as higher shipments of high-

Apr 28, 2026By Nam Hyun-woo
Samsung SDI returns to black in Q1 on battery demand recovery

Kolon TissueGene presents long-term TG-C data at OARSI

Kolon TissueGene announced that it presented long-term follow-up data for TG-C at the World Congress of the Osteoarthritis Research Society International (OARSI), held April 23 to 26 in West Palm Beach, Florida. OARSI is an international organization focused on osteoarthritis research, and its annual congress brings together clinical and scientific experts to share emerging data. At the congress, the company presented long-term follow-up data of up to 17 years for TG-C, along with a subgroup analysis from a Phase 2 study evaluating outcomes by body mass index (BMI). As of July 31, 2025, a total of 219 participants — including five from Phase 1, 33 from Phase 2 and 181 from Phase 3 — had been followed for up to about 17 years in a long-term study. Based on the available data, no new safety signals have been identified so far, and no tumor cases have been deemed related to TG-C. A subgroup of elderly patients monitored for more than a decade also showed no new safety findings during the observation period. A subgroup analysis from a Phase 2 study showed reductions in pain scores in bot

Apr 28, 2026By Nam Hyun-woo
Kolon TissueGene presents long-term TG-C data at OARSI

Japan’s arms export shift set to intensify naval shipbuilding rivalry with Korea

Japan’s decision to lift decadeslong restrictions on arms exports is expected to intensify competition with Korea, particularly in the global naval shipbuilding industry, experts and industry officials said Monday. The move marks a significant policy shift, coming more than six decades after Tokyo imposed strict limits on overseas weapons sales following its World War II defeat in 1945. Defense experts said Japanese shipbuilders are poised to emerge as formidable contenders against Korean counterparts such as HD Hyundai Heavy Industries and Hanwha Ocean, both of which must brace for tougher competition in overseas naval contracts. “In Southeast Asia, Japan is widely regarded as a more reliable partner than Korea due to the former’s long-standing engagement through official development assistance, which could translate into stronger naval export opportunities,” said Yang Uk, a research fellow at the Asan Institute for Policy Studies. Yang added that Japan’s recent successful bid for Australia’s next-generation multirole frigate program underscores its enduring competitiveness

Apr 28, 2026By Lee Min-hyung
Japan’s arms export shift set to intensify naval shipbuilding rivalry with Korea

PHOTO Introducing soju drinking culture to foreigners

Soju artist Kim Wan-jun, right, also known as Funnyjun, pours soju for a participant during his soju drinking culture class at Inspire Entertainment Resort in Incheon, April 18. He said soju — now the world’s best-selling distilled spirit and a staple in K-content — has become more than just a drink, but a tool for sharing stories, prompting growing demand to teach foreigners proper etiquette for enjoying it together. The program was part of the resort’s campaign to introduce Korean culture to visitors, one that includes the Aurora Night Market, a Saturday K-food festival recreating a retro Korean alley of street vendors. Courtesy of Kim Wan-jun

Apr 27, 2026By Ko Dong-hwanphoto
[PHOTO] Introducing soju drinking culture to foreigners
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